Mondelez, the maker of Cadbury chocolates pays Rs 439 cr to settle tax dispute
By MYBRANDBOOK
Cadbury chocolates manufacturer Mondelez India Foods Private Limited has paid ₹439 crore under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, to settle a ₹580-crore excise tax dispute.
In 2011, the Directorate General of Central Excise Intelligence (DGCEI) which is now known as the Directorate General of Goods and Services Tax Intelligence (DGGSTI) had initiated a probe against the company for allegedly misusing "area-based exemption" for a new unit in Baddi in Himachal Pradesh to avail excise duty benefits, even before it came into existence. The "area-based exemption" for new units of firms in Himachal Pradesh provides full exemption from excise duties for production of specific goods for 10 years, as per norms. However, for availing the exemption, the unit should have been established before March 2010.
According to reports, a demand of about Rs 580 crore was raised against Mondelez India Foods Private Limited, erstwhile Cadbury India Limited, following the probe.
The firm has paid Rs 439 crore under the Centre's 'Sabka Vishwas' Legacy Dispute Resolution Scheme to settle the amount of tax and penalty.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...